§ 25-2-110. RECEIVERSHIP.

Latest version.

If a receiver or trustee is appointed to take over and conduct the business of a franchisee, whether in receivership, reorganization, bankruptcy, or other action or proceeding, the County Council may cancel a franchise 120 days after the appointment unless, within the 120-day period:
(1)

The receivership or trusteeship is vacated;

(2)

The receiver or trustee has fully complied with all the provisions of this article and remedied all defaults; or

(3)

The receiver or trustee has executed an agreement, duly approved by the court having jurisdiction in the premises, under which the receiver or trustee assumes and agrees to be bound by this article.

(1988 Code, § 8-22) (Bill No. 134-97, §§ 1, 2, 12-5-1997; Bill No. 31-03, § 2, 7-1-2004)

                    
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